Gentoo Media (G2M) Q3 2024 earnings summary

Executive summary

• Completed company split and rebranding to Gentoo Media Inc., now a pure affiliate-focused business, with Platform & Sportsbook division distributed to shareholders as of 30 September 2024.

• Achieved 15th consecutive quarter of record revenue, reaching €30.4M in Q3 2024, up 35% year-over-year, driven by diversification and focus on higher-value markets.

• Integration of recent acquisitions (Titan Inc., Casinomeister.com) underway, expected to yield cost savings and operational synergies.

• AskGamblers and KaFe Rocks continued strong performance post-acquisition, contributing to growth.

• Strong cash flow generation post-split, expanding capital allocation options.

Financial highlights

• Q3 2024 revenue reached all-time high of €30.4M, up 35% YoY, with 12% organic growth.

• EBITDA before special items: €14.6M (48% margin); after special items: €14.0M (46% margin), up 36% YoY.

• EBIT: €10.0M, up 40% YoY, with a 33% margin.

• Cash flow from operations (Media): €19.9M in Q3; €36.9M for 9M 2024. Cash and cash equivalents at period end were €5.0M.

• Net profit from continuing operations was €4.9M, up from €0.6M in Q3 2023; loss from discontinued operations and assets held for distribution was €-62.6M, mainly due to a €50.2M impairment.

Outlook and guidance

• Confirms 2024 guidance: revenue €125–135M, EBITDA margin 45–50%.

• Strong seasonality expected in Q4, especially in casino, and from new revenue initiatives.

• Priorities for 2025 include expanding sports betting, growing new acquisitions, and improving tech and CRO.

• Ongoing focus on restoring rankings for Casinotopsonline.com and further integration of Titan Inc. to drive cost savings.